Profire Energy (NASDAQ:PFIE) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note released on Wednesday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

Separately, Lake Street Capital reaffirmed a “hold” rating and set a $2.55 price objective on shares of Profire Energy in a research report on Wednesday, October 30th.

Profire Energy Price Performance

Profire Energy stock opened at $2.53 on Wednesday. Profire Energy has a 12 month low of $1.33 and a 12 month high of $2.55. The company has a fifty day moving average price of $2.29 and a two-hundred day moving average price of $1.82. The company has a market cap of $116.89 million, a PE ratio of 14.06 and a beta of 0.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Profire Energy in the third quarter valued at $46,000. Jane Street Group LLC increased its holdings in shares of Profire Energy by 359.3% in the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 38,230 shares during the period. Royce & Associates LP lifted its position in Profire Energy by 1.0% in the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock valued at $3,414,000 after purchasing an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Profire Energy by 5.6% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock valued at $2,470,000 after purchasing an additional 91,941 shares during the period. Finally, Perritt Capital Management Inc grew its position in Profire Energy by 4.6% in the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 14,720 shares during the last quarter. Institutional investors and hedge funds own 38.51% of the company’s stock.

Profire Energy Company Profile

Profire Energy, Inc, a technology company, engages in the engineering and design of burner, and combustion management systems and solutions for natural and forced draft applications in the United States and Canada. It primarily focuses on the upstream, midstream, and downstream transmission segments of the oil and gas industry.